June 2015

Found 4 blog entries for June 2015.

Summer's one of the hottest home buying and selling seasons in most real estate markets.  It's the favorite season for families with children in school to buy and sell.  Summer of 2015 is finding low inventory of homes for sale in many areas.  The limited inventory can give seller's an advantage.  You still need to prepare your home for the market if you want top dollar.  These simple tips will get you off to the right start.

Curb Appeal is Sexy

Summerlin Luxury Homes in the RidgesThis is true when selling your home at any time of year.  Having an inviting, attractive front yard with an alluring home is your first step to success.

In the Summer it's important to check all sprinkler heads and irrigation systems.  Make sure they're keeping things from drying out in the Summer heat.

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Las Vegas Home buyers have 7240 single family homes, plus 2397 condos, townhomes and high rise condos to choose from.  There are 9637 homes available for today's buyer in the Las Vegas MLS.  This is slightly lower than it was over the past few Las Vegas Real Estate and Luxury Homesmonths.  In May we had 9751.  In February, we had a high of 9805.  

Homes Sold in May 2015

We sold 2652 single family homes plus 604 condos, townhomes and high rise condos.  A total of 3256 resale homes closed escrow in May.  That's consistent with the sales volume we've seen the last several months.  Last month we sold 3269 resale homes through the MLS.  In March it was 3262 homes sold.  In May 2014 we sold 3371 properties through the Greater Las Vegas MLS.   Feel free to search current listings here.

Over

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Today's Las Vegas High Rise buyers have 534 options available in our most popular buildings.  (For this report, we only track the true high rise buildings that are at least 10 floors and built after 2000).  This is an increase from the 474 we started with in May and the 505 we started with in April.  Nice to have more options for buyers but increased inventory isn't good news for sellers.

Las Vegas High Rise Condos For Sale

Turnberry Towers Luxury High Rise CondosFive of the condos that are currently available are short sales.  Four of them are foreclosures.  This is a huge improvement over 2011-2012 when almost all the high rise condos were either short sales or foreclosures.  The remaining 525 condos listed for sale are traditional, non-distressed properties.

High Rise Bargains

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One of the first requirements when buying a home is an "Earnest Money Deposit" or "EMD".  The listing agent will suggest an amount in the MLS.   In Las Vegas 2-5% is typical for offers involving financing.  Cash offers may include a larger deposit.

When competing with other buyers, a larger EMD can be an advantage.  Sellers will view the offer that doesn't skimp on the deposit as a buyer that's more committed.  A healthy deposit combined with a clean offer can help win bidding wars in a seller's market.

What is an Earnest Money Deposit and Is It Necessary?

Home Buying and Earnest Money DepositsThe EMD is often called a "good faith" deposit.  It's not your "Down Payment" on the home but counts towards the deposit at closing.  In NV and other escrow States, the EMD goes into escrow

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